- 7 Things to Know About Social Security Survivor Benefits
Social Security is not just a benefits program for retired workers. It also provides essential support to nearly 5.8 million survivors of deceased workers each month. The benefits can help replace lost income and maintain financial stability during an incredibly challenging time. Eligibility depends on how long the deceased worked and your relationship to them.… read more…
- Do Retirees Need an Umbrella Insurance Policy?
Umbrella insurance serves as supplemental liability coverage that activates when your standard policies reach their limits. Retirees often find this coverage valuable, especially if they have accumulated substantial assets and face unique risk factors. A serious auto accident, injury on your property or defamation lawsuit could quickly wipe out retirement savings without enough coverage. That… read more…
- Is $2 Million Enough for a Couple to Retire?
Approaching retirement with $2 million in savings puts many couples in a strong financial position. But is $2 million enough for you and your spouse to retire comfortably? That answer depends on lifestyle, health, income needs and how long you expect retirement to last. While $2 million covers retirement for some couples, it may not… read more…
- How to Live Off of Dividend Income as a Retiree
Many retirees live off dividend income because dividends from strong companies can grow over time. While annuities and bond funds don’t offer rising income like dividends do, they can still be part of a retirement plan. Careful planning, diversification and risk management are key for making this work. If you need help building a well-balanced… read more…
- 7 Fixed-Income Investments for Retirees to Consider
As retirement gets closer, many investors focus more on protecting their money than growing it. Fixed-income investments can help by providing steady interest payments and reducing stock market risk. With the right strategy, these investments can help cover living costs, lower risk and add to Social Security or pension income. A financial advisor can help… read more…
- 5 Investments for Retirees and Examples of Portfolios
Choosing investments for retirement means finding the right balance between safety and growth. You want a mix that can handle market ups and downs while giving you steady income. Since there’s no one right answer, a financial advisor can help you build a plan that fits your goals, risk level and income needs. 5 Investments… read more…
- What Are the Pros and Cons of a Defined Benefit Plan?
Defined benefit plans, often referred to as traditional pensions, offer a reliable stream of income in retirement. These plans can provide peace of mind with guaranteed income, but they also tend to be less flexible than defined contribution plans like 401(k)s. They are also not available to most private-sector workers. Whether you’re evaluating a job… read more…
- How Much Money Is Needed to Retire at Age 60?
If you plan to retire at 60, you’ll need a clear picture of your future expenses and a solid plan. Because 60 is earlier than most benefit eligibility ages, you’ll need extra savings to cover the gap. The amount needed varies significantly based on your lifestyle expectations, health considerations and location. Some experts suggest saving… read more…
- Is $400,000 Enough to Retire at 65?
Whether $400,000 is enough to retire at 65 depends on your expenses, other income sources and how long you expect to live. There is no hard and fast answer that is accurate for all situations. For someone with modest expenses and full Social Security benefits, it may be possible to make $400,000 last. But without… read more…
- Can Rental Income Affect Your Social Security Benefits?
Social Security benefits provide essential income for millions of Americans. However, there can be a reduction in benefits if your total income exceeds certain thresholds. Many retirees use rental income to supplement their retirement, but it interacts with Social Security differently than wages or self-employment income. Unlike wages from a job, the Social Security Administration… read more…
- I’m a 51 Year Old Divorced Dad. I Have $780k in My 401(k) and Contribute the Maximum. Can I Retire in 10 Years?
Dependents can change everything. When it’s just you, or you and a partner, you have more room to adapt financial plans to your personal situation. If you want to retire early, you can adjust your spending, change zip codes or even move abroad to align with your savings. When you have children, aging parents or… read more…
- I Inherited My Husband’s 401(k) With $615k. How Do Handle This Money to Reduce Taxes?
Inheriting a retirement account can be complicated. With a retirement account that you opened, you’re referred to as the original owner. You can contribute to this portfolio, manage it as you see fit, and leave the money in place subject only to required minimum distributions (RMDs) in some cases. When you inherit a retirement account,… read more…
- I’m 50 With $650k in My 401(k). Should I Pivot to Roth Contributions?
At age 50, Roth contributions might be valuable, for the right household. With a Roth portfolio, the question is balancing the opportunity costs against the long-term savings. Here’s the general rule of thumb: For most households, if you get started in your 20s and 30s, a Roth’s untaxed growth will typically generate benefits that outweigh… read more…
- What Happens If You Don’t Take Your RMD by April 15?
While there are reporting requirements on your tax return due April 15 regarding your RMDs, the deadlines for taking these distributions out of your account have two other particular deadlines. By April 15th and beyond, you have already missed both deadlines for the prior year’s RMD, but you can act quickly to minimize any potential… read more…
- Is $2 Million Enough to Retire at 60?
Whether $2 million is enough to retire at 60 depends on how much you plan to spend, how long you expect retirement to last and what other income sources you have. Some retirees can live comfortably on that amount. Others may fall short if healthcare costs rise, inflation picks up or spending increases. Your specific… read more…
- Is $3 Million Enough to Retire at 60?
Whether $3 million is enough to retire at 60 depends in part on how much annual income that portfolio can reliably generate. With a 4% withdrawal rate, it could produce around $120,000 per year before taxes—enough for some retirees, but not all. Your investment strategy, lifespan, inflation, and healthcare expenses all affect how far that… read more…
- Is $1.5 Million Enough to Retire at 55?
Is $1.5 million enough to retire at 55? That figure may offer a solid base, but several factors affect whether it can support a retirement lasting 30 years or more. Early retirees face gaps in healthcare coverage, limited access to Social Security and retirement accounts. Still, they need to make their savings last longer than… read more…
- I’m 60 With a $920k in Retirement Savings and Expect a $2,250 Social Security Check at FRA. What’s My Retirement Budget?
In your early 60s, for most households, attention shifts from wealth accumulation to wealth management. You have a few more years to put the finishing touches on your retirement savings, at which point, it will be time to start taking structured withdrawals. This can be a good opportunity to start looking at how you’ll manage… read more…
- Is $4 Million Enough to Retire at 60?
If you have $4 million saved for retirement, you have significantly more than the average American household. But is $4 million enough to retire at 60? The answer ultimately depends on your spending, life expectancy and the income your assets will generate. For many households, a portfolio of that size can support a comfortable retirement,… read more…
- Is $10 Million Enough to Retire at 60?
For most people, $10 million is enough to retire at 60. It offers a wide enough margin for living expenses and unexpected costs. How quickly you spend that money depends on your lifestyle, returns, inflation and healthcare costs. Managing your portfolio strategically and withdrawing conservatively can help your savings last well into retirement. Ask a… read more…
- Is $1.5 Million Enough to Retire at 60?
Is $1.5 million enough to retire at 60? The answer depends on spending habits, geographic location, investment returns and whether other income sources like pensions or Social Security are available. For some, this amount may support a comfortable retirement with modest travel and stable housing. For others—particularly those facing high medical costs or living in… read more…
- 13 Jobs for Seniors: Occupations, Trends and Salary
Jobs for seniors span a wide range of industries, offering flexibility, social engagement and opportunities to apply existing skills. Part-time or project-based jobs can help older adults stay active, supplement their retirement income or explore new interests. Many employers value the reliability and experience that older workers bring, and remote work has expanded options even… read more…
- Can I Take My RMDs When My Portfolio Is Down to Make Them Smaller?
Unfortunately, you can’t time the market on required minimum distributions (RMDs). RMDs are calculated based on two factors: the value of your portfolio and your age, both as measured at the end of the previous year. So, for example, your required minimum distribution in 2025 is based on the value of your portfolio and your… read more…
- Can You Retire at Age 50 With $300K?
Retiring at 50 with $300,000 depends on several factors, including lifestyle choices, income sources and long-term financial planning. Unlike traditional retirees who stop working at 65 and have access to Social Security and Medicare, early retirees must rely on personal savings, investment portfolios and possibly even part-time work to sustain their lifestyle. A financial advisor… read more…
- I Have $1.1 Million Saved and Expect a $2,700 Social Security Benefit. Can I Retire at 65?
The question of when you can retire is at once complicated and, at the same time, simple. Complicated, because it requires balancing portfolio risk and returns against future spending, potential needs and other unknowns. Getting all that right requires you to make a lot of educated guesses. Simple, because at the end of all that,… read more…